PNoy leaves for World Economic Forum

Posted at 01/24/2013 12:01 AM | Updated as of 01/24/2013 10:50 AM

MANILA - President Aquino left for Davos, Switzerland late Wednesday night to attend the World Economic Forum (WEF).

In his departure statement, Aquino said he intends to take advantage of the slowdown in some European countries to encourage potential investors to take a look at the Philippines.

He also said he will promote tourism.

The president added the WEF is a good opportunity for him to meet with other world leaders without having to visit their countries individually.

Aquino is meeting with business executives during his five-day visit to Switzerland.

Communications Secretary Ricky Carandang said Aquino's trip is a good way to herald the administration's anti-corruption efforts that have helped the country achieve economic growth in less than 3 years.

Carandang said no investment deals would be signed, but that the trip will help open up the Philippines as a haven for investment opportunities, particularly from the European market.

Carandang admitted that Europe is one continent where the Philippines does not get a lot of media coverage.

Aquino arrives in Davos Thursday morning.

Aquino will first meet with executives of Volkswagen as well as International Monetary Fund Managing Director Christine Lagarde.

A handful of Filipino businessmen will also join the president, including Jaime Augusto and Fernando Zobel of Ayala Corp.

On day 2, Aquino will meet with WEF founder and executive chairman Klaus Schwab and global business executives. -- reports from Jenny Reyes, Danny Buenafe, Willard Cheng, ABS-CBN News